Innodata Inc. $INOD Shares Bought by Scientech Research LLC

Key Points

• Scientech Research LLC increased its ownership in Innodata Inc. by 215.6% during the first quarter, acquiring a total of 33,307 shares valued at approximately $1.2 million.
• Innodata reported $0.20 earnings per share for the last quarter, surpassing analysts' expectations of $0.11, with revenues reaching $58.39 million, a 79.7% increase year-over-year.
• The stock carries a current consensus rating of "Buy" with an average target price of $55.00, as reiterated by BWS Financial, which set a price objective of $74.00.

Scientech Research LLC grew its stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 215.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 33,307 shares of the technology company's stock after acquiring an additional 22,755 shares during the period. Scientech Research LLC owned about 0.10% of Innodata worth $1,196,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Creative Financial Designs Inc. ADV acquired a new stake in shares of Innodata during the 1st quarter valued at $29,000. KBC Group NV acquired a new stake in shares of Innodata during the 1st quarter valued at $52,000. Motco acquired a new stake in shares of Innodata during the 1st quarter valued at $72,000. Twin Tree Management LP acquired a new stake in shares of Innodata during the 1st quarter valued at $83,000. Finally, AlphaQuest LLC lifted its position in shares of Innodata by 137.2% during the 1st quarter. AlphaQuest LLC now owns 2,443 shares of the technology company's stock valued at $88,000 after acquiring an additional 1,413 shares during the last quarter. Institutional investors and hedge funds own 30.75% of the company's stock.

Innodata Price Performance

INOD opened at $43.48 on Friday. The stock has a fifty day moving average of $44.83 and a 200-day moving average of $42.74. The firm has a market capitalization of $1.38 billion, a P/E ratio of 35.06 and a beta of 2.58. Innodata Inc. has a 12-month low of $13.02 and a 12-month high of $71.00. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.09.

Innodata (NASDAQ:INOD - Get Free Report) last released its earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.09. The company had revenue of $58.39 million during the quarter, compared to analyst estimates of $56.35 million. Innodata had a return on equity of 54.27% and a net margin of 18.71%.The company's revenue was up 79.7% compared to the same quarter last year. Equities analysts forecast that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reiterated a "buy" rating and set a $74.00 price objective on shares of Innodata in a research report on Monday, June 16th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $55.00.

Innodata Company Profile

Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services.

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